- Energiecotel begins trading on RSE
- Becomes first indigenous private energy firm to list on the stock exchange
- Trades in Rwf 6.5 billion long-term fixed-rate corporate bond
Private energy firm Energiecotel has begun trading on the Rwanda Stock Exchange (RSE). The firm officially began trading the Rwf 6.5 billion long-term fixed-rate corporate bond, which was fully subscribed. The Rwandan Minister of Infrastructure presided over the launch of the listing.
Energiecotel Executive Director Ferdy Turasenga said, ”Moving to the capital markets is an essential step towards showcasing additional avenues for capital formation and providing a platform for investors to participate in the ENERGICOTEL investment plans,” He added that investors could expect a good return on investments as the firm has committed to a fixed interest rate of 13.75% in the first tranche.
Energiecotel, through a 25-year concession agreement, operates three hydropower plants in Rwanda with a combined capacity of 3.3MW.